BB&T Securities LLC cut its position in shares of Valero Energy Co. (NYSE:VLO) by 8.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,612 shares of the oil and gas company’s stock after selling 1,924 shares during the quarter. BB&T Securities LLC’s holdings in Valero Energy were worth $2,394,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. AMP Capital Investors Ltd lifted its stake in Valero Energy by 20.3% during the second quarter. AMP Capital Investors Ltd now owns 346,731 shares of the oil and gas company’s stock worth $38,427,000 after purchasing an additional 58,425 shares during the last quarter. Icon Wealth Partners LLC bought a new position in Valero Energy during the second quarter worth $161,000. Twin Capital Management Inc. lifted its stake in Valero Energy by 2.8% during the second quarter. Twin Capital Management Inc. now owns 114,730 shares of the oil and gas company’s stock worth $12,716,000 after purchasing an additional 3,100 shares during the last quarter. Rampart Investment Management Company LLC lifted its stake in Valero Energy by 4.4% during the second quarter. Rampart Investment Management Company LLC now owns 41,146 shares of the oil and gas company’s stock worth $4,560,000 after purchasing an additional 1,739 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Valero Energy by 85.2% during the second quarter. Van ECK Associates Corp now owns 43,455 shares of the oil and gas company’s stock worth $4,816,000 after purchasing an additional 19,987 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.
Several brokerages have weighed in on VLO. Wells Fargo & Co increased their target price on Valero Energy from $122.00 to $146.00 and gave the stock a “positive” rating in a research report on Tuesday, May 29th. ValuEngine lowered Valero Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Credit Suisse Group increased their target price on Valero Energy from $118.00 to $135.00 and gave the stock a “neutral” rating in a research report on Monday, June 4th. JPMorgan Chase & Co. increased their target price on Valero Energy from $128.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Finally, Mizuho began coverage on Valero Energy in a research report on Wednesday, August 1st. They issued a “neutral” rating and a $125.00 target price on the stock. Fourteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $116.59.
Shares of VLO opened at $117.13 on Friday. The firm has a market cap of $49.71 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 1.96 and a beta of 0.99. The company has a current ratio of 1.67, a quick ratio of 1.10 and a debt-to-equity ratio of 0.39. Valero Energy Co. has a one year low of $69.98 and a one year high of $126.98.
Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, July 26th. The oil and gas company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.17. The company had revenue of $31.02 billion for the quarter, compared to analyst estimates of $26.56 billion. Valero Energy had a return on equity of 12.06% and a net margin of 4.21%. The company’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same period last year, the company earned $1.23 earnings per share. sell-side analysts anticipate that Valero Energy Co. will post 6.52 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 5th. Stockholders of record on Tuesday, August 7th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Monday, August 6th. Valero Energy’s dividend payout ratio (DPR) is 64.52%.
In other news, Director Stephen M. Waters sold 1,000 shares of the firm’s stock in a transaction on Monday, July 30th. The stock was sold at an average price of $116.76, for a total transaction of $116,760.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.45% of the stock is currently owned by company insiders.
Valero Energy Profile
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities. It produces conventional and premium gasolines, gasoline meeting the specifications of the California Air Resources Board (CARB), diesel fuels, low-sulfur and ultra-low-sulfur diesel fuels, CARB diesel, other distillates, jet fuels, asphalts, petrochemicals, lubricants, and other refined petroleum products.
Featured Article: Hedge Funds – Risk or Reward?
Want to see what other hedge funds are holding VLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valero Energy Co. (NYSE:VLO).
Receive News & Ratings for Valero Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valero Energy and related companies with MarketBeat.com's FREE daily email newsletter.